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House Oversight Targets Hyperliquid, Crypto.com and PredictIt in Insider Trading Probe
Comer said some traders made thousands of dollars on nonpublic information as the committee seeks identity checks and trade-surveillance records.
- On Tuesday, House Oversight Committee Chairman James Comer expanded an investigation into insider trading on prediction markets, requesting information from Hyperliquid, Crypto.com, and Aristotle Exchange Inc. regarding their identity verification and trade surveillance procedures.
- Comer cited a Hyperliquid trade where an investor netted about $192 million after President Donald Trump announced 100% tariffs in October 2025, calling the trade "precisely timed to a nonpublic government decision."
- The committee's wider inquiry, opened in May, has already received nearly 1,000 documents regarding Kalshi and Polymarket, with Comer stating "some bad actors have exploited the platforms" to misuse nonpublic information.
- Past incidents highlight these concerns, including former Rep. George Santos, whom Kalshi fined $71,356 in August, and a U.S. soldier arrested in April for allegedly netting roughly $400,000 using inside information on Polymarket bets.
- Seeking to ensure compliance, the committee continues investigating whether these platforms fulfill legal obligations, including maintaining robust know your customer, or KYC, policies, while spokespeople for the newly targeted platforms did not provide comment on Tuesday.
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US Congress Investigates 3 Crypto Platforms Over Alleged Insider Trading
Hyperliquid, Crypto.com, and PredictIt are under investigation for alleged insider trading. James Comer, Chairman of the U.S. House Committee on Oversight and Accountability, sent notification letters to the 3 platforms. The probe centers on highly suspicious trades executed minutes before major government announcements, highlighting a $1.1 billion short position on Hyperliquid opened moments before tariffs ...
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